T-Mobile acquires MetroPCS 74 percent stake for $1.5 billion

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T-Mobile buys MetroPCS

Deutsche Telekom, the company who owns T-Mobile has finally inked the documents which buys the majority of the shares (74%) of MetroPCS. These negotiations have finally come to a close, T-Mobile acquires MetroPCS after the board of directors at MetroPCS recently voted and approved the merger between both companies.

The deal will cost Deutsche Telekom $1.5 billion and in return T-Mobile gets 74 percent of the stake in the new company, as well as 9 million pre-paid customers.

“The combination of T-Mobile and MetroPCS creates an even stronger disruptive force in the U.S. wireless market,” said John Legere, President & Chief Executive Officer of T-Mobile US, Inc. “Together, as America’s Un-carrier, we’ll continue our legacy of marketplace innovation by tearing up the old playbook and rewriting the rules of wireless to benefit consumers.”

“By uniting T-Mobile and MetroPCS, we have created a dynamic new player in the wireless industry that has the right strategy and management team in place to compete successfully in today’s marketplace,” said Mr. Höttges. “We look forward to realizing the tremendous potential of the new T-Mobile.”

Full press release below.

 

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